Crude palm oil futures gain 0.76% on strong demand

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Press Trust of India

May 1, 2017

UPDATED: May 1, 2017 18:20 IST

New Delhi, May 1 (PTI) Crude palm oil prices were up by 0.76 per cent to Rs 476.70 per 10 kg in futures trade in evening session today as speculators created fresh positions, driven by pick up in demand at the spot market.

The exchange remained closed in the morning session for Maharashtra Day.

At the Multi Commodity Exchange, crude palm oil for delivery in June went up by Rs 3.60, or 0.76 per cent, to Rs 476.70 per 10 kg, in a business turnover of 10 lots.

Similarly, the oil for delivery May gained Rs 3.10, or 0.63 per cent, to Rs 492 per 10 kg in 102 lots.

Analysts said fresh positions built up by participants due to pick up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly led to the rise in crude palm oil prices at futures trade. PTI KPS SUN SRK

This is unedited, unformatted feed from the Press Trust of India wire.

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